£231k – what can you get for your money?

With the nation spending more time at home than ever before, it’s unsurprising we’re focusing more on our living space – or lack thereof. For those thinking of upping sticks, it’s worth considering what you can get for your money in different regions of the UK.

According to a study1 of how much space the average house price (£231,000) buys you in different areas of the country, the West Midlands is the clear winner at 104.92 sq m – 30% more space than average. Buyers in this region will also benefit from more bedrooms, at 3.02 against the national average of 2.64. It’s not the top area for bedrooms, though – Northern Ireland takes this spot, with £231k buying an average of 3.26 bedrooms.

And the worst value?

That would be the capital, with buyers in Greater London getting a minuscule 45.74 sq m on average for their hard-earned cash – with some properties measuring as low as 21 sq m! Those paying £231k in London are also much less likely to have a garage or utility space compared with West Midlands buyers. Outside of London, South East buyers can expect only a moderately larger property at 62.91 sq m for the average house price, while the cash will buy 72.31 sq m of space for Scottish residents.

1Space Station, 2020